Commodity Intraday Technical Outlook 28 July 2023 - Geojit Financial Services
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Gold LBMA Spot
A direct break below $1940 would extend liquidation pressure. Lese, a mild recovery upturn expected the day.
Silver LBMA Spot
Choppy with mild negative momentum expected initially. However, it needs to clear above $25.20 to strengthen the momentum.
Crude Oil NYMEX
As long as prices stay above $78 would extend rallies. A direct drop below $75 likely to trigger weakness.
Gold KG Aug
If unable to move past Rs 59600 there are chances of corrective selling.
Silver KG Sep
Inability to break the resistance of Rs 77000 would extend selling pressure. Major support is placed at Rs 70000.
Crude Oil Aug
While prices stay above Rs 6300 would continue rallies. Else, choppy trading is on the cards.
Natural Gas Jul
Expect corrective selling pressure to continue if prices are unable to move past Rs 225.
Copper Aug
Consistent trades above Rs 740 is required to extend rallies. Else, choppy trading is on the cards for the day.
Nickel Aug
Expect choppy with thin volume trading in the near future.
Zinc Aug
Choppy trading expected initially. However, if unable to break the support of Rs 215 there are chances of recovery upticks.
Lead Aug
Consistent trades above Rs 183 would extend rallies. Else, choppy trading is on the cards.
Aluminium Aug
It is required to break above Rs 200 to extend rallies. Else, choppy with corrective selling pressure expected the day.
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